Report by Pearl Amoako – 07/04/2024

The Ghana Union of Traders’ Association (GUTA) has expressed its support for Dr. Mahamudu Bawumia’s proposal to implement a new flat tax regime and tax amnesty.

GUTA sees this as a beneficial move that will greatly relieve businesses and stimulate growth. During an interactive session with Dr. Bawumia in Accra, where he elaborated on his vision for Ghana, GUTA President Dr. Joseph Obeng Darko commended the tax reform proposal, emphasizing that a flat tax system would simplify processes and foster business expansion.

Dr. Obeng Darko, speaking on behalf of GUTA, stated, “We agree with your flat tax proposal because it will simplify things for us and help our businesses to grow.” He highlighted the potential positive impact of tax amnesty and a flat tax rate on businesses, indicating that such policies would encourage responsible practices and spur growth over the next five years.

During the session, Dr. Bawumia engaged extensively with GUTA members, addressing their concerns and considering their suggestions. He assured them of his dedication to fostering a conducive business environment and outlined his plans for business-friendly tax reforms. He also discussed measures to tackle smuggling, as well as the meticulous planning behind his proposed tax reforms. Dr. Bawumia aims to establish a tax system that supports business growth and competitiveness in Ghana. He reaffirmed his commitment to promptly implementing these reforms, including a flat duty on containers for spare parts and aligning import duty rates with neighboring countries like Togo to deter smuggling activities.

The collaboration between Dr. Bawumia and GUTA underscores their shared goal of enhancing Ghana’s business landscape and promoting economic development.